BPOP - Popular, Inc. NASDAQ Stock

[BadThad]

Popular, Inc. is a diversified bank holding company. The Company operates in three target markets: Puerto Rico, the mainland United States, and processing and other technology services in Puerto Rico, Venezuela, Florida and the Dominican Republic. The Company offers in Puerto Rico an array of retail and commercial banking services through its principal bank subsidiary, Banco Popular de Puerto Rico (Banco Popular or the Bank). Banco Popular has the retail franchise in Puerto Rico, with 196 branches and over 615 automated teller machines (ATMs). The Bank also operates seven branches in the United States Virgin Islands, one branch in the British Virgin Islands and one branch in New York. Banco Popular has three subsidiaries: Popular Auto, Inc., Popular Finance, Inc. and Popular Mortgage, Inc. On November 30, 2007 Banco Popular completed the acquisition of Citibank, N.A.’s retail operations in Puerto Rico, which consisted of 17 branches.

BPOP - Popular, Inc. - Google Finance

Newest news is sending the stock flying up:

Popular selling U.S. mortgage unit assets to Goldman Sachs
7:42a ET August 29, 2008 (MarketWatch)
NEW YORK (MarketWatch) -- Popular Inc. said Friday it has reached an agreement to sell loan and servicing assets of its U.S. mortgage subsidiary Popular Financial Holdings to various Goldman Sachs affiliates. The sale includes approximately $1.17 billion in loans and mortgage servicing assets and is expected to close in the fourth quarter of 2008, Popular said. It said that the deal will provide more than $700 million in additional liquidity and significantly reduce its subprime assets, but is also expected to result in a loss of approximately $450 million in connection with the transaction.

Current PPS: $8.81

[BadThad]

Added bonus if you hold:

Popular Declares Cash Dividend
4:15p ET August 28, 2008 (PR NewsWire)
Popular, Inc. announced today that its Board of Directors declared on Thursday, August 28, 2008, a cash dividend of $0.08 cents per common share. The new dividend rate represents a reduction of 50 percent from its previous dividend payment. The dividend is payable on October 1, 2008 to the stockholders of record as of September 12, 2008. The dividend reduction will help preserve $90 million of capital a year. The dividend payment is reviewed on a quarterly basis.

"Setting a new dividend rate that is more compatible with the present economic scenario has been a hard but prudent decision," said Popular CEO Richard Carrion. "While understandably painful for all of our shareholders, including many of our employees and retirees, this is absolutely a necessary step given the continued uncertainty in the financial markets and extended fallout of the U.S. housing sector. While Popular's capital base remains above 'well capitalized' ratios, the new rate will provide us with greater flexibility by significantly increasing our liquidity and allows us to meet the challenges ahead from a position of strength."

Carrion added: "We have exited non-strategic markets and strengthened our balance sheet with the series of actions taken during the last 12 months. We continue to execute our plan to improve the profitability of our U.S. operations by leveraging on our core strengths in Puerto Rico, where we are the undisputed market leader. We still have work to do and will communicate the next series of actions once completed."

[Plankowner]

One of the stocks I'm watching this morning.

[thegreatgate]

Yesterday's close: $1.46
52-week low: $1.42

Anyone have any thoughts on this...awfully close to the 52-week low and I think the last 10 trading sessions have been red (see chart)!

[davecash77]

When is earnings announced ?

[paperchase]

Popular, Inc. is a diversified bank holding company. The Company operates in three target markets: Puerto Rico, the mainland United States, and processing and other technology services in Puerto Rico, Venezuela, Florida and the Dominican Republic. The Company offers in Puerto Rico an array of retail and commercial banking services, through its principal bank subsidiary, Banco Popular de Puerto Rico (Banco Popular or the Bank). The Bank accounted for 66% of the total consolidated assets of the Company at December 31, 2008. Banco Popular has the retail franchise in Puerto Rico, with 179 branches and over 600 automated teller machines (ATMs). The Bank also operates seven branches in the United States Virgin Islands, one branch in the British Virgin Islands and one branch in New York. Banco Popular has two subsidiaries: Popular Auto, Inc., a vehicle financing, leasing and daily rental company, and Popular Mortgage, Inc., a mortgage loan company with 32 offices in Puerto Rico.

www.bancopopular.com

[BadThad]

Down big today:

Popular, Inc. - Google Finance

Current stock price $1.32

[thegreatgate]

Bump, hit 52-week low yesterday at $1.00 which was the lowest the stock has ever traded for since being listed in 1992. Also looks like they have paid a nice and steady dividend for 17 straight years. Current dividend is 2 cents per share....

Haven't really done any dd but if the company doesn't declare bankruptcy in the next week then it seems like this is a good deal, chart maybe bottoming out, was trading in the mid-$3s in May..

Yesterday's close: $1.08

[paperchase]

Popular Extends Expiration Date of Exchange Offer
7:30a ET July 29, 2009 (PR NewsWire)
Popular, Inc. (the "Corporation") (Nasdaq: BPOP) today announced that it has extended the expiration date for its offer to issue up to 390 million shares of its Common Stock in exchange for its Series A Preferred Stock and Series B Preferred Stock and for Trust Preferred Securities (the "Exchange Offer") until 11:59 PM on August 13, 2009, unless the Corporation further extends the Exchange Offer or terminates it prior to such date.

As of 5:00 p.m. on July 28, 2009, approximately $700.67 million in aggregate liquidation amount of Trust Preferred Securities and liquidation preference of Series A Preferred Stock and Series B Preferred Stock (or 49.66% of the aggregate liquidation amount or liquidation preference outstanding) had been tendered in the Exchange Offer as follows: $153,338,750 in aggregate liquidation preference of shares of its Series A Preferred Stock (or 82.05% of the aggregate $186,875,000 liquidation preference outstanding); $352,983,325 in aggregate liquidation preference of shares of its Series B Preferred Stock (or 88.25% of the aggregate $400,00,000 liquidation preference outstanding); $31,539,000 in aggregate liquidation amount of the 8.327% Trust Preferred Securities (or 21.90% of the aggregate $144,000,000 liquidation amount outstanding); $65,214,000 in aggregate liquidation amount of the 6.564% Trust Preferred Securities (or 21.74% of the aggregate $300,000,000 liquidation amount outstanding); $84,523,300 in aggregate liquidation amount of the 6.70% Cumulative Monthly Income Trust Preferred Securities (or 33.81% of the aggregate $250,000,000 liquidation amount outstanding); and $13,071,200 in aggregate liquidation amount of the 6.125% Cumulative Monthly Income Trust Preferred Securities (or 10.05% of the aggregate $130,000,000 liquidation amount outstanding).

Except as otherwise stated in this release all of the terms and conditions of the Exchange Offer, as set forth in the Preliminary Prospectus (defined below) are unchanged.

The lead dealer managers for the Exchange Offer are UBS Investment Bank, which can be contacted at (888) 719-4210, and Popular Securities, which can be contacted at (787) 766-6601, and the co-lead dealer manager is Citi, which can be contacted at (800) 558-3745.

The Corporation has filed a registration statement (including a preliminary prospectus (the "Preliminary Prospectus") and related exchange offer materials) with the SEC for the exchange offer to which this communication relates. This registration statement has not yet become effective. Before you decide whether to tender into the Exchange Offer, you should read the preliminary prospectus in that registration statement and other documents the Corporation has filed with the SEC for more complete information about the Corporation and the Exchange Offer. You may obtain these documents for free by visiting EDGAR on the SEC Web site at U.S. Securities and Exchange Commission (Home Page). Alternatively, the Corporation will arrange to send you the preliminary prospectus if you request it by contacting Corporate Communications, at (787) 765 - 9800. The complete terms and conditions of the Exchange Offer are set forth in the preliminary prospectus and the related letters of transmittal, copies of which will be available at Popular - Sobre Popular and from Global Bondholder Services Corporation, the information agent, at (866) 540-1500 or, for bankers and brokers, at (212) 430-3774.

This press release is not an offer to sell or purchase or an offer to exchange or a solicitation of acceptance of an offer to sell or purchase or offer to exchange, which may be made only pursuant to the terms of the preliminary prospectus and related letter of transmittal, as applicable.

[greencat]

Possible breakout chart. It will make a higher high. Tough resistance at 3.00

Chart for BPOP